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the world. the u.s. is a heavy user of credit products. europe is a distant second. it gives you a backdrop of the credit availability. this gives you some backdrop that the markets in the united states have come back to an extent if you look at the various asset classes. not as many people buying cars. the market is functioning. most of the student loans are going under the government's balance sheet. different loan obligations -- this data is a little bit old. $50 billion and that market is rapidly returning. this is the slide that everybody talks about, the dramatic change in how mortgage credit is made in the united states over the past six years. securitization of volumes have gone up by $300 billion in the past six years. private credit is a huge volume. $700 billion put through the private label security system. $22 billion is overstating it. of all the slides i have, this is the most telling about where the credit is coming from. it's coming to fannie and freddie and fha. 90% of loans are effectively being guaranteed by the government. it is not just a u.s. phenomenon. europe does n
a situation where we have a massive advantage over europe and asia in terms of our natural gas. it creates a better economy and that reduces the debt. >> there is a headline predicting we will be producing more oil than saudi arabia beginning in 2020. this is something almost on imagined 10 years ago. -- unimagined 10 years ago. what is the role of the federal government? >> to do things that encouraged the results. to follow up on the fiscal cliff. you can solve this fiscal problem if you grow our role to position relative to everybody else's. a big problem is the percentage of government spending is more than its should be related to total gdp. if there is an easier for millet in the history of economics that -- formula ever in the history of america -- economics that more american energy equals more american jobs, i don't know what it is. it is all the jobs you have if you of a reliable supply of energy. the front page of the "the wall street journal" indicates a difficulty of connecting this cheap product we have in natural gas. we thought we would run out natural-gas as a country. con
unexplored and unperilous territory. europe is experiencing that and the results are not attractive. it seems that when a majority of people internalize the big bang theory and ask with peggy lee is that all there is, when many people decide the universe is the result of a cosmic sneeze with no meaning, when they conclude that therefore life should be filled, overflowing with distractions, comforts and entertainments to aswage the board m, then they may become suss september bling to the excitements of politics that promise ar sets meaning and spures al vations of a human condition berefts and therefore barren. we know from bitter experience of blood soaked 20th century the political consequences of this filt meaninginglessness. political nature of who are vacuum and a vacuum of meaning is filled by sec cue lar fighting faiths. fascism gave its adherence a meaningful life. communism taught it's adherence to dwive meaning from the participation in the drama of history's unfolding destiny. the political paradox is this, secularism advanced in part as moral revotion against the history of religi
have as in this for a while. i think there is always china, europe, and the congress that can miss this up. i think it is hard to stop this recovery. we have done everything we can to do it. we can do it again if we try hard. i think we will not succeed this time. >> we have not talked about the creation yet, which polling showed is a major concern for americans. for the long-term unemployed who have been left behind a little bit and then to the economic recovery, do you feel like the president and congress is doing enough to address the problem? what politically and realistically could be done in the next four years? >> i think the president is committed to this. i think he would like to see an extension of unemployment insurance. he would like to see it if possible an extension of the payroll tax cut. we just released a $4 trillion deficit revenue plan that calls for four and a billion dollars in short-term stimulus. we think there is a need for a infrastructure and roads and bridges. we think it has to happen sometime in the next 20 years. we have a situation with incredibly low
democrats and in europe. they need some time to be more able -- to be able -- they are very successful on the side of the opposition. right now in sight of the government, there is a tremendous responsibility. we have seen that from the parliamentarian elections were the muslim brothers in egypt but the majority. until the results, they lost 4 million of votes. this is why we have a responsibility in the united states to support democratic institutions not allowing any ideological block to hijack the revolution or the institutions. at the same time, not taking sides. that will have a negative impact. it is an important asset to combat the jihad tests or the extremists. -- jihadists or the extremists. the muslim brothers in tunisia .ccused this is why we have to a differentiates between the muslim brothers and the girondists. do not put all the islamists in one basket. -- jihadists. do not put all the islamists in one basket. are they committed to values. this is the most important thing. >> and we have seen in syria where they had a violent fight between the muslim brothers and the ala
happened since 1989 is the region that we used to call 1980 -- eastern europe has become differentiated. they have the common memory of communist occupation. >> more with pulitzer prize- winning anne applebaum. from her historical narrative "iron curtain" sun and the clock on c-span's q&a. brian monaghan says government lenders and borrowers have to reset expectations on home ownership. he spoke at a brookings institution and a vent on the future of home ownership. this is just under one hour. >> good morning. i am pleased to introduce our keynote speaker for today. he has been ceo of one of the world's largest financial institutions since 2010. bank of america serves many different audiences with a full range of financial and risk- management products and services. you see them everywhere. the bank one out of every two american households. i have gotten to know brian through my work. best help underserved americans. brian grew up the sixth of nine had a job of as bus boy and dug that made industrial magnets. he later attended brown university which is something we have in common and pl
territory. -- perilous social territory. europe is experiencing the widespread waning of the religious impulse. it seems that when a majority of people internalize the big bang theory, and ask, with peggy lee, is that all there is? when people decide that the universe is the result of a cosmic sneeze with no transcendent meaning, when they conclude that life should be filled to overflowing with distractions, comforts and entertainments to as which -- assuage the boredom. they might give up the excitements of politics. we know from experience of the bloodsoaked 20th century, the political consequences of this. political nature in the horror of the vacuum. the vacuum of meaning is filled by secular fighting. fascism and communism. fascism -- a meaningful life of racial estimate. communism, adherence to derive meaning from the participation in the drama of history is unfolding destiny. the excruciating political paradox of modernity is this. secularism advanced as part of a moral revolution against the bloody history of religious strife. even those of us who are members of the growing "n
europe and asia in terms of our -- in terms of our national natural gas. but it creates a better economy, high revenues that reduces the debt. >> senator, the same question to you. i'm wondering, this headline recently predicting that we're going to be -- the united states could be producing more oil than saudi arabia beginning in 2020. i mean, this is something almost unimagined 10 years ago. what is the role of the federal government from here on out, given that? >> i think the role of the federal government is to do things that encourage exactly that result and to follow up a little bit on the question of fiscal cliff, part of the way that you saw this fiscal problem issue grow our relative position in the economy relative to everybody else's. one of our big problems right now is the percentage of government spending is way more than it should be relative to total g.d.p. and part of that is because you don't have the growth in g.d.p. that the right kind of energy policies would produce. if there's an easier formula ever in the history of economics than more american energy equals more
in central europe. they encourage more scientists and engineers. the founders would have known this. you need the historians and philosophers to look way over the cliff to the mountains and beyond. talking about creating incentives to do -- you have to have people that are imaginative who can look beyond the current crisis. that has been part of the american middle class, new ideas. >> i agree with that. i would like more of an emphasis on science and math. in terms of the k through 8th grade. >> absolutely. a young physicist learning how to do problem sets started going back to the questions of uncertainty and the relativity theory and became more philosophical. if you're just doing problem sets, you are not thinking about the deeper ideas or setting the framework for thinking will be on the cliff to the future. >> do you have a question? >> i fear that we have a burgeoning student loan problem in our country. it is the only form of consumer debt that has increased substantially. people don't have the jobs. look at it on an apples to apples basis. very high default rates. i worry about kids
. they called many members in africa, in europe, in the international community, to support and to call to arms the security council, to refer that crimes happened to the international criminal court. the second issue -- the necessary support to the situation on the ground, according to the syrians. as i said before, the gap from the international community and what is going on the ground -- we have to reconcile the and the syrians -- they do not call for humanitarian assistance. if they allow assad to stay in office, we are dealing with the symptoms, rather than the disease. if we just focus on humanitarian assistance, the next day, we have hundreds and thousands more refugees. we should deal with the disease itself. we have to support the free syrian army, and take actions to support the end of the regime. otherwise, we are allowing for more humanitarian tragedy to come in syria. the last thing i want to emphasize is the responsibility of the international
have been cleared, he kept on working. >> you are known as a very good fighter in europe. what are the factors or characteristics? >> i do not know what you mean. we were unsettled -- considered gentle people. something happens to a person. when there is a cause. keep in mind the people who sell forward and volunteer, they are a very special breed. i am not suggestion we were superman or people better than the rest, a coptic christian jen -- a consecration the -- a concentration camp mahood half -- i had to ask myself a question. what i have volunteered? to this day, i am not able to get an honest response. i cannot be honest with yes or no. the fact that hundreds upon hundreds volunteered under those conditions is not only historic. it is almost unbelievable. i do not suppose there is any similar chapter in our history where people in large numbers stood up and said we have got to defend a country that is doing us harm. when you look back the life in the camps, there were children standing up before school, pledging allegiance to the flag. it is almost beyond comprehension. wh
roughly 44% of their graduates are in those fields. europe is at 24%. america is at 16% of our graduates. i say this respectfully, knowing we are on c-span, but when the europeans are outdistancing us by 50% in an area as important talent inng human challeng these key fields that will drive innovation, you know we are in trouble. i will correct one comment, the democratic side and marco rubio and jerry moran, we have put forward legislation long before the election that says let's look at this, the competition issue and put forward an approach that many of us, including those of us in the business world, have been talking about for decades. let's recognize that while we know that we do need to prime the pump with science, engineering, math graduates, native-born americans, partly in the numbers with middle school with girls and children of color and the enormous challenges short and long term, we also have to still continue to attract talent from the world. one of the ways that we can and will is if we change the visa policies. if we had visa policies and immigration policies in effect i
.s. is a heavy user of credit products. europe is a distant second and other parts of the world. it gives you a backdrop of a huge amount of credit availability. a big drop off in 2008 and 2009 and some very slow increases. this gives you some backdrop that the securitization markets in the united states of come back to an extent if you look at the various asset classes. there are just not as many auto loans being made right now as five years ago. generally, the markets function and they are working. not many as student loans going to the private sector since the shift. most loans going under the government's balance sheet. credit cards, there were changes that have fundamentally changed different loan obligations -- this data is a little bit old from 2011 and 2012. this is the slide everybody talks about in various formats, a dramatic change in how mortgage credit is made in the united states. this is the only slide i can possibly show you where securitization volumes have gone up. it is the agent market has gone up by $300 billion over the past six years. a huge change or the private mbs, p
to immigration. i can tell you that the united states as well as europe and many other countries including eventually china because of our current demographic situation, we will turn to immigration increasingly because our ter tilt is approaching below replacement level so immigration will be a necessity. the chinese are thinking about the fact their one child policy is going to lead to them having a much older population soon with fewer children. so immigration becomes another way they can continue the economic vitality of their country. so to me immigration and vitality are closely linked. i think that's true for many business people in the united states and the university. not too sure about the politicians. >> i think we have to remind people the story of america is a story of immigration. some of the most iconic companies in the country were founded by immigrants. it's been the history for a long time. i believe the reason it's so sensitive now is the debate around immigration is the debate around illegal immigration and there needs to be more focus on legal immigration and less about
is a time honored tradition that has really disappeared. >> this is the land of immigrants. it is not europe, it is not asia, it is not africa. it is a combination of all. the only so-called natives were the indians. the rest of us were foreigners. sometimes, we forget that. >> what do you see as a solution to this problem? is there a solution? >> those of us that are a bit older should make an extra effort to demonstrate what non- partisanship can result in. i do that in my regular work. showing my colleagues that you can see all of these things happening. those that serve on our committees get the message. >> with your committee is especially and your relationship with ted stevens, as the politics have changed over the years and the democrats control one time or republicans the next, it has never seemed to make much difference on your committee with the ability to produce great results because of your ability to work together. >> if there is an incumbent republican running, i avoid going to that state. if you go into that state and say nasty things about him, he will not forget it when he
Search Results 0 to 17 of about 18 (some duplicates have been removed)

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